Recalling on the series of events and government that took part in the removal of subsidy on petroleum products in Nigeria, you can help me count down from the Rigim of Gen. Sanni Abacha in 1996. Subsidy on petroleum products was removed and a wiser way to spend the Billions of Naira was to input into Capital Projects, Building Schools and Colleges, Scholarship Scheme and development in some sector of the economy by setting up the Petroleum Trust Fund (PTF), now re branded as the Petroleum Trust Development Fund (PTDF). You don't need to be born in the 60's or 70's to understand what am talking about. Then, Fuel price increased from #20 to between #40 and #45.
Counting again to the second event of petroleum product subsidy removal in this rich Oil producing nation was the January 1st, 2012. Fuel subsidy removal by the President, Goodluck Jonathan, People's Democratic Party (PDP) lead administration, which which raised our official pump price from #65 set as a temporal standard by President, Umar Musa Yaradua to #97.
This move caused one of the greatest street protest in recent times in Nigeria. But the face of terror. Was calmed by the assurance of the Subsidy Reinvestment and Empowerment
Programme ( SURE -P), The Youth Enterprise with Innovation in Nigeria( You WiN!), Agricultural development and Youth empowerment. Even the late 90's or the early millennium born saw the effect of the SURE-P in the country, (if not for the set of most corrupt Nigerians called the state Governors; in who's hands the fund landed and was never passed across for the proper usage).
President, Gen. Muhammadu Buhari on the case of subsidy removal is a no event to shout about yet, but need to tell the nation where he is driving the excess money used for subsidy but removed to. Is it to Agriculture, Mining, Youth Empowerment? Please let the world know.
To my best of knowledge, when a vital part of an economy is touched, it should be swept to wash clean the other part, reason being that fuel price inflated from #86.5 to #145 is not easy for the entire population looking at it from the angle of the nations minimum wedge of Eigtheen Thousand Naira #18,000 which is about $90 in the parallel market.
Personally, I have no problem with fuel subsidy removal in a falling economy like that of Nigeria, because effect could be Positive or Negative, but we hope the President Muhammadu Buhari's All Progressive Congress (APC) lead administration make it positive.
My complain is the Deregularisation, which reams like a no go or a bad omen to the Politically Concious-Conservative Class; which I found myself. I don't know Mr. President's plan plan actually because am sure he is administratively wiser than I am, but my questions goes thus;
1. Is the Federal Government giving room to illegal refining of crude oil in the country?
2. Is the Federal Government deviating from the norm by leaving a vacuum for black marketers to fill?
If we must go with the deregularisation agenda! I need the Federal Government to tell me the work of the Petroleum Pipeline and Products Marketing Company (PPMC), Petroleum Equalisation Fund (PEF), Petroleum Products and Price Regulatory Agency (PPPRA) and even the Department of Petroleum Resources (DPR), bbecause by Deregularization, the work of these petroleum controlling bodies is a fold.
Mr. President; this is a time to act fast because the clock is ticking and by God's grace we have prayed your way through the first 365days of service to this great nation.
I still wonder what is the cause of the present inflation in the country, could it be the petroleum subsidy removal, or the Deregularisation?. The Naira-Dollar relationships now a long distance type.
Mr. President, what about your pre-election promises to the youth?, what have you done about the pandemic called corruption eating deep into our flesh you promised to fight for us? We've been talking probing of the past corrupt leaders, but but not sure of ourselves, even though you are left with some days more than 1000 to go. Mr. President please I need you to check what is going on in the "Independent National Electoral Commission (INEC), Federal Inland Revenue Services (FIRS), Nigerian Maritime Administration and Safety Authority (NIMASA), Department of Petroleum Resources (DPR), Pension Board, Joint Admission and Matriculation Board (JAMB), Internship Training Fund (ITF), Nigerian Port Authority (NPA), National Emagency Management Agency (NEMA), Federal Road Managment Agency (FERMA), National Youth Service Corp (NYSC), National Examination Council (NECO) and Nigerian University Commission (NUC). I wish the APC Government to see it well on where and how to re invest what was removed as subsidy, but in advice, to re invest it on Agriculture and Iron and Steal.
Written by;
Abraham, Ojochenemi (Lachenzy)
Author: www.kissandtellafrica.blogspot.com
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